Divaris Handles Sale of 12 Acres to Kroger, Development of Hampton Roads Crossing Starts

Posted on December 30, 2013  /  in News Releases  /  No Comments

VIRGINIA BEACH, VIRGINIA:  Gerald S. Divaris, Chairman/CEO of Divaris Real Estate, Inc. (DRE), announced the sale of 12 acres of land at the mixed-use project called Hampton Roads Crossing on the southeast corner of College Drive and Hampton Roads Parkway in Suffolk, Virginia, for the development of a Kroger Marketplace.  The 113,361-square-foot store will anchor the retail component of Hampton Roads Crossing.

The sale to Kroger was handled on behalf of the seller, Terry/Peterson Investment Thirty, by Levi Thomson of the Virginia Beach office of Divaris Real Estate.  Thomson and DRE’s Eric Bucklew are handling the leasing of Hampton Roads Crossing.

Kroger Marketplace will open in November 2014, and additional retail stores will open during the summer of 2015.  Hampton Roads Crossing will be a campus community where retail shopping, commercial business districts and 1,000 residential units will materialize.  The development is to be a true mixed-use center that spans the Suffolk-Portsmouth city lines.  The retail component of Hampton Roads Crossing will front College Drive.  Once developed, this 40-acre site will feature key anchor box tenants including Kroger Marketplace as well as shops and outparcels.

The commercial component is comprised of three state-of-the-art buildings situated along the Western Freeway (Route164).  The MAST Center is home to the Virginia Modeling, Analysis and Simulation Center (VMASC) and the Tri-Cities Center, both operated by Old Dominion University.   Additional office buildings and a hotel site are planned for the future.

Located in the Habour View section of northern Suffolk, adjacent to Harbour View East, Harbour View Station Town Center and the United States Naval Network Warfare Command, Hampton Roads Crossing has convenient access from both Interstate-664 and Route 164.

Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and metropolitan Washington, DC.  Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international real estate brokerage and property management company that currently manages and/or leases in excess of 30 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.

Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.  DRE is also the Virginia affiliate for The CORE Network, a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe. These organizations represent corporate and institutional clients, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.

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